The Allstate Blog » Marilyn Katzhttp://blog.allstate.com
Expert tips and fun facts on protecting your car, home, motorcycle or RV from Allstate Auto InsuranceTue, 31 Mar 2015 15:41:11 +0000en-UShourly1http://wordpress.org/?v=4.1.1Boomers: Tips for Setting Up an Intergenerational Householdhttp://blog.allstate.com/boomers-tips-for-setting-up-an-intergenerational-household/
http://blog.allstate.com/boomers-tips-for-setting-up-an-intergenerational-household/#commentsMon, 21 May 2012 14:06:34 +0000http://community.allstate.com/community/allstate_blog/blog/2012/05/21/boomers-tips-for-setting-up-an-intergenerational-householdFor some time now, the term ‘boomerang generation’ has been bandied about to describe young adults moving back into their parents’ homes. But now, we’re also seeing a ‘reverse boomerang,’ where it’s the parents joining the children’s households. Sometimes these parents are elderly, but more than half of the increase in intergenerational families is from […]

For some time now, the term ‘boomerang generation’ has been bandied about to describe young adults moving back into their parents’ homes. But now, we’re also seeing a ‘reverse boomerang,’ where it’s the parents joining the children’s households.

Sometimes these parents are elderly, but more than half of the increase in intergenerational families is from parents who are still under age 65, according to U.S. Census Bureau data. Due to a combination of unemployment, rising living costs and debt, we boomers are now joining our kids in being described as a boomerang generation.

Consider Advantages, Disadvantages

Of course, an intergenerational household may have advantages.

Boomer parents are well noted for having close relationships with their children. And having extra adults around to help with expenses, child care, or just to keep each other company, can make life less stressful, more memorable and more fun.

But you don’t have to dig deep to imagine the potential negatives.

Having extra adults around to help with expenses, child care, or just to keep each other company, can make life less stressful, more memorable and more fun.

Having Suzy leave her dirty clothes in the bathroom, or Junior deplete the gas in the car, may be mildly irritating when they are still in high school. But when they move back home, after college or after losing a job, these sorts of problems can quickly mount.

Add to that grandmother’s sensitivity to loud noises and the kids’ tendencies to evoke them and, well, the situation can quickly become overwhelming.

Coordinate a Family Conference

So, where to begin? Before you consider combining households, you need to bring the adult parties together to discuss expectations, boundaries, and rules. This can include housekeeping duties, rent, or contributions towards expenses.

It may even include behavior. For instance, if one party is moving in because of a job loss, maybe no rent is expected. But there will probably be expectations that the unemployed person will look for a job, and, at least, that dirty clothes will find their way to the laundry basket.

Neither party will be happy if there’s too great a compromise on lifestyle, savings or retirement as a result of the other party failing to pull their weight. Nobody wants to feel taken advantage of or misused.

Set the House Rules

Once you’ve decided to green-light the intergenerational living arrangement, you will want to outline each party’s expectations and create house rules covering areas such as:

Rent and other expenses. Will the moving-in party pay rent, buy groceries, or make sure the family car has a full gas tank?

Housekeeping and repairs. Will housekeeping tasks be shared, or at least, not made any worse? If one party breaks something, will they assume responsibility?

Space concerns. Is your home ready for intergenerational needs? Do you need to baby proof? Or make accommodations for someone who might have trouble navigating the stairs?

Fitting in and getting along. This may be harder to discuss than the more tangible financial issues. If you are moving in with your adult son, for example, how will your presence affect his new wife? If your son and his family are moving in with you, will they expect live-in babysitting services? Is that what you expect? How will mealtimes and other routines change, or stay the same?

Goals and progress. If the new living arrangements are supposed to be temporary, while one party works to find a new job or pay off debt, what goals, timetables and milestones can you put in place? If Junior should be looking for a job, to help pay off $50,000 in student loans, should he be participating in multi-player Internet games until four in the morning?

I have known blended, intergenerational family situations that worked out very well. Young children got the benefit of having grandparents around; adult kids got a chance to get back on their feet; and older folks enjoyed companionship and some help with household bills and duties.

But I have also seen generous people taken advantage of by “boarders” who never put food in the refrigerator, a load of laundry in the wash, nor have never made a meal. In these cases, the host family exceeded its budget and eventually lost its patience — relationships and finances were seriously damaged.

Intergenerational households might very well be a solution to financial problems, health issues or even loneliness. While it can be tough to impose rules on adult children, or on parents, you’ll only benefit by having these discussions and making everything clear in advance.

Guest blogger Marilyn Katz is the founder of the Over 50 Website, which is dedicated to topics that concern today’s baby boomers.

]]>http://blog.allstate.com/boomers-tips-for-setting-up-an-intergenerational-household/feed/3Nearly 50 and Laid Off: Finding a Job in Retirementhttp://blog.allstate.com/nearly-50-and-laid-off-finding-a-job-in-retirement/
http://blog.allstate.com/nearly-50-and-laid-off-finding-a-job-in-retirement/#commentsMon, 23 Apr 2012 12:57:30 +0000http://community.allstate.com/community/allstate_blog/blog/2012/04/23/nearly-50-and-laid-off-advice-on-finding-a-jobWhen I was busy enjoying my 20s and 30s, I had a vision of being set in my career by the time I reached my 50s, at which point I’d coast along for a few years until I could enjoy a traditional retirement. I learned a demanding, technical skill, worked hard, set money aside, and […]

When I was busy enjoying my 20s and 30s, I had a vision of being set in my career by the time I reached my 50s, at which point I’d coast along for a few years until I could enjoy a traditional retirement. I learned a demanding, technical skill, worked hard, set money aside, and watched my expenses, thinking it was all within reach.

My approach may seem naive now, in light of the housing bust, the global recession and other economic upheavals. But, in some ways, I was lucky. I hit a wall in my 40s. Demand for my formerly in-demand technical skills started falling because of overseas outsourcing and technology changes. I scrambled to adjust and keep up. Everything I knew about staying employed, or even getting employment, just stopped working.

Meanwhile, my shorter term goals kept piling on the financial obligations. I felt forced to drain off retirement savings and run up credit card bills.

While I seemed to work harder and harder, my previous vision of retirement evaporated. After some careful reflection, I realized I was making two main mistakes:

I kept doing the same old things

I really wasn’t willing to adapt to a new labor market

So, why am I telling the whole world about my failures? To explain that, yes, I have been there. I know the fear and ego battering that results from getting laid off as an older worker.

But, more importantly, I’m sharing my story because, while it took a while, I did make the adjustment and I know others can make a similar change.

Consider the midlife career dilemma

While I was struggling to find employment I was also suddenly feeling the overwhelming need to do something more fulfilling. Of course, at the very same time, I also felt the overwhelming need to keep the electric bill paid (I had kids to feed and car payments to make).

I began by trying out a couple of different career fields, trying to “get in” at the bottom. But I quickly realized that neither option was something I wanted to do for the next few decades. I was approaching 50, but I still faced the prospect of working for 20 or 30 more years. I wanted to do something better, and I wanted to do it right away.

Solve unemployment with self-employment

For me, the solution was self-employment. I managed to leverage 30 years of work experience to slowly create a viable business model for myself. I started small, on nights and weekends, and then ultimately left my previous day job behind for a new career in online publishing.

I am now a big believer in solving unemployment with self-employment. Almost everybody has a skill or talent that can provide value to others. If you have reached a point where you dislike having others telling you what to accomplish during the day, it may be time to start telling yourself what to do.

Self-assess your way to a career change

On the other hand, self-employment is not for everybody. If you’re in the market for a midlife career change, you may need actual employment, and you may need to find it quickly. Begin with a good analysis of your situation. I spent 20 years as a systems analyst, but it took me years to start applying those skills to my own problems. Hopefully, the following points can help speed up the process for you:

Can you move to a different city? A lot of older workers do not want to relocate, but this may be the real key to landing a good job in your career field.

Can you apply your experience to a slightly different career in another industry? While manufacturing jobs may be in short supply, health care jobs keep growing. Both fields can use people with management, technical, or sales skills.

Do you need some quick job retraining? Take advantage of classes online or at a local community college. These may demonstrate that you are a person who is willing to work to keep yourself updated with technology and trends.

Is your resume dating you? The way I learned to build a resume and cover letter, decades ago, is not what employers look for today. I would invest time learning how to make an updated resume, or I would invest some money in a good resume service.

Stay flexible and make a step

Of course, these questions have complicated answers. And you are the one who knows what’s right for your particular situation. But it’s important that you stay flexible. Most of the stories I’ve read about people experiencing long-term unemployment illustrate a lack of flexibility on their part. Even if it’s just developing a more open mindset, you can start fixing your situation today. One day and one step at a time.

Guest blogger Marilyn Katz is the founder of the Over 50 Website, which is dedicated to topics that concern today’s baby boomers.

]]>http://blog.allstate.com/nearly-50-and-laid-off-finding-a-job-in-retirement/feed/1Take the Right Steps on the Path to Retirementhttp://blog.allstate.com/take-the-right-steps-on-the-path-to-retirement/
http://blog.allstate.com/take-the-right-steps-on-the-path-to-retirement/#commentsWed, 18 Jan 2012 20:38:31 +0000http://community.allstate.com/community/allstate_blog/blog/2012/01/18/take-the-right-steps-on-the-path-to-retirementCan you believe another year has come and gone? By now, you’ve certainly already made (and even broken) your annual New Year’s resolutions. But here’s one resolution everyone should keep each year: Set goals for retirement and make plans for achieving them. The earlier you start saving for retirement, the better off you will be […]

]]>Can you believe another year has come and gone? By now, you’ve certainly already made (and even broken) your annual New Year’s resolutions. But here’s one resolution everyone should keep each year: Set goals for retirement and make plans for achieving them.

The earlier you start saving for retirement, the better off you will be when you reach your golden years. Even if that’s decades from now, it’s never too soon to begin building your nest egg. And if your retirement is just around the corner, now is a great time to reassess your situation and put your plans in order.

A Sure-Fire Strategy: More is Better

Whatever predictions you hear from so-called experts on TV (or in your living room), the only thing you can say with certainty about the future is that it will be filled with surprises. So if you think you’ll need “x” dollars to retire, you will be better off saving “x+y”! The more “y” money you can stash away, the less you’ll have to worry about the future value of the dollar, inflation rates or market returns. Since experts can’t reliably predict these things a month in advance, how can anyone know what their value—or the shape of the economy—will be in 10, 20 or 30 years?

Keep Your Money Working

One of the keys to retiring comfortably is keeping your money productive! You may need to explore several good retirement vehicles to come up with the best plan for your individual situation. For example, you may want to compare Roth IRA vs. traditional IRA plans. Although both have tax advantages, they are different in regards to rules, eligibility, withdrawal penalties and when you receive your deductions, so you will need to evaluate which will be right for you.

Fixed annuities also are popular retirement vehicles. They are generally regarded as safe investments, but may have better returns than some other types of safe financial products. Consider some of the advantages of annuities, which are also available from insurance companies.

Other insurance products can benefit you and your family before and after your retirement. Life insurance protects your family, while health insurance can supplement your Medicare. You may also want to consider the pros and cons of long-term care insurance.

Get Retirement Planning Help!

Retirement planning can get complicated, and financial or insurance professionals can help you make good decisions. An experienced professional should listen to your concerns, evaluate your unique situation and present you with alternatives.

Good luck sticking to this and all your other 2012 resolutions!

Guest blogger Marilyn Katz is the founder of www.over50web.net, an online community for boomers.

]]>http://blog.allstate.com/take-the-right-steps-on-the-path-to-retirement/feed/2Researching the Safest Carshttp://blog.allstate.com/researching-the-safest-cars/
http://blog.allstate.com/researching-the-safest-cars/#commentsWed, 14 Sep 2011 14:36:10 +0000http://community.allstate.com/community/allstate_blog/blog/2011/09/14/how-and-why-to-find-the-safest-carsAre you in the market for a new or used vehicle? If so, you probably spend a lot of time comparing cost, gas mileage and quality. You may even be reading up on tips to negotiate your final price and terms at the dealership. But are you also spending time researching safety ratings? A safer […]

]]>Are you in the market for a new or used vehicle? If so, you probably spend a lot of time comparing cost, gas mileage and quality. You may even be reading up on tips to negotiate your final price and terms at the dealership. But are you also spending time researching safety ratings?

A safer car can save you money, help you avoid accidents, may mean less property and personal damage if you do have an accident, and, certain safety features could earn insurance discounts. If you shop by price, as many people do, don’t forget to take into consideration the potential impact of safety features on your insurance. Here are some things to look for:

Vehicle handling and its braking system;

Whether a car has the new crash avoidance systems; and

Extra steps to ensure the driver and passengers are well protected.

How to Research Safety Ratings

Finding and comparing safety rating information can take some time, but your efforts will be rewarded with valuable statistical analysis. Auto companies, the United States government and other third parties all test vehicles and publish results. You might visit safercar.gov to view an excellent use of your tax dollars at work as the U.S. Department of Transportation publishes this website to help consumers find safer cars.

The Insurance Institute for Highway Safety publishes tests and vehicle ratings in a simple, easy-to-understand format. The IIHS is a nonprofit organization dedicated to reducing deaths, injuries and property damage that result from crashes on the nation’s roads. It has research on a variety of topics, ranging from things to look for when you need to buy a child booster seat to which SUV had the highest safety ratings in 2005. The IIHS is a good starting place to check that your next vehicle has been well-tested and passed safety tests.

If you’d rather not browse online, try calling your insurance agent. Find out which types of vehicles insurers tend to discount because they are considered safer than comparative alternatives. Also, ask about useful safety features that may earn discounts because they help prevent or minimize accidents.

In the end, a safer car can help you avoid accidents. If you do have an accident, it may help lessen the damage. And even if they never have to perform their functions, safety features may save you money by lowering insurance rates and increasing your vehicle’s value.

When you research your next vehicle, put safety at the top of the list!

Guest blogger Marilyn Katz is the founder of the www.over50web.net, an online community for boomers.

]]>http://blog.allstate.com/researching-the-safest-cars/feed/0Help Seniors Drive Safely or Stop Drivinghttp://blog.allstate.com/help-seniors-drive-safely-or-stop-driving/
http://blog.allstate.com/help-seniors-drive-safely-or-stop-driving/#commentsWed, 17 Aug 2011 14:21:18 +0000http://community.allstate.com/community/allstate_blog/blog/2011/08/17/help-seniors-drive-safely-or-stop-drivingIf you fall into the generation known as thebaby boomers, there’s a good chance that you also fall into the sandwich generation. Why? Because we are sandwiched between the responsibilities for our growing kids and the growing needs of our elderly parents. While we usually accept both responsibilities, it can be stressful to step in […]

]]>If you fall into the generation known as thebaby boomers, there’s a good chance that you also fall into the sandwich generation. Why? Because we are sandwiched between the responsibilities for our growing kids and the growing needs of our elderly parents. While we usually accept both responsibilities, it can be stressful to step in and play the “parent” to our own aging parents.

As tough as it is to teach our teens to drive, it’s much tougher to police our parents’ driving. One important—and difficult—issue we may have to face is evaluating the safety of older drivers in the family.

It can be very hard to summon the courage to tell the people who drove with us the first time—andpossibly paid for our first accident—that their own driving habits make us nervous. But sometimes, for the safety of our parents and other drivers and even to comply with auto insurance company and state regulations, we have to force the issue.

You may take some comfort in knowing that you are not the first adult child to have to tackle this problem—and that help already exists.

Warning Signs

Many elderly people can still display maturity, experience and strong driving skills, but some infirmities of age can make other older drivers a true road hazard.

If you have concerns about one of your parents’ driving, you are right to address the issue. One ticket or accident isn’t a sign of a problem, but a change in the frequency of tickets, accidents or even small incidents should alarm you.

How to Talk to Elderly People About Driving

The most difficult part of this discussion will not necessarily be about handing over the car keys. The argument will most likely focus on your aging family member’s fear of giving up their freedom, responsibility and even identity.

In our culture, one major rite of passage is earning a driver’s license. Aging adults may feel as if they are being treated like a child when they give up the car keys.

Try to approach the subject in a calm and caring way. Appeal to your aging parents’ lifelong sense of responsibility. Your concern is for personal safety and not about a few dents in a car. Turning in the car keys will be a mature and adult decision—not a punishment.

Present alternative transportation ideas. If an elderly person knows you will be willing to provide transportation, pay for cabs or help them locate city or senior center buses, it may reassure them that they will not lose their freedom and mobility.

Get help from health care professionals. Sometimes, it’s a lot easier for an aging parent to take advice from a doctor than it is to take advice from the son or daughter they taught to drive a few decades ago.

The professionals who run senior driving classes can also help evaluate and counsel the family about individual driver safety. If your parent is still a capable driver, a senior class can be a useful refresher, just like defensive driving classes. Some auto insurance companies even offer a discount for a successful class completion.

Hopefully, you can save this as a last alternative, but if you truly fear for your elderly family member’s safety and the safety of other drivers, you may have to request a safety evaluation from the police.

If your aging parent does have to turn in their driver’s license, assure them that they can replace it with a state identification card. Handing in a driver’s license can feel like a loss of identity, but replacing it with a state ID card can help.

You will have to accept the fact that you may be regarded as the bad guy for a while, but it will eventually pass. In the meantime, you can take comfort knowing that your actions may have saved your elderly loved ones’ and other drivers’ lives.

Guest blogger Marilyn Katz is the founder of www.over50web.net , an online community for boomers.

]]>http://blog.allstate.com/help-seniors-drive-safely-or-stop-driving/feed/0Safer Cars for Mature Drivershttp://blog.allstate.com/safer-cars-for-mature-drivers/
http://blog.allstate.com/safer-cars-for-mature-drivers/#commentsThu, 14 Jul 2011 14:10:48 +0000http://community.allstate.com/community/allstate_blog/blog/2011/07/14/safer-cars-for-mature-driversWe mature drivers have years of experience. However, for some of us, we also must admit that our reaction time and eyesight may not be as good as they used to be. Despite that, we may be considered lower risk drivers because we use our experience, maturity and, hopefully, a clean driving record to demonstrate […]

We mature drivers have years of experience. However, for some of us, we also must admit that our reaction time and eyesight may not be as good as they used to be. Despite that, we may be considered lower risk drivers because we use our experience, maturity and, hopefully, a clean driving record to demonstrate that we can handle vehicles safely.

Now, let us use our virtues to make sure we do everything we can to compensate for some of the mild infirmities of getting older. That way we can keep the roads safer, enjoy more driving and help keep our insurance rates down!

Inexpensive Ways to Make Your Car Safer

Night Vision– As we age, our vision is likely to get a bit worse. A lot of times we hardly notice it, except when we have to challenge it. By all means, visit your optometrist regularly! Also note that dirty or yellow headlights can reduce your night vision by as much as 90 percent, and this problem is a lot more common than most people think. Your regular car wash may not be enough to keep your headlight covers as clear as when the car was new. So be sure you clean your headlights yourself or stop at a local service station and ask them to help you

Driver Safety Classes – Even if you have avoided accidents for years, you may still benefit from refresher classes. Many insurance companies offer a discount for their customers who take a driving safety class every few years, so it may be a worthwhile investment.

Navigation Systems– If your car doesn’t have a GPS, you can buy a portable device for about the price of two tanks of gasoline. Instead of having to squint to see street signs or addresses or worse yet, to glance down at a map, you can rely on a handy computer voice to tell you to turn right or left.

New Cars – If you decide to purchase a new car, you can find all sorts of amazing new safety features—from collision prevention to blind spot warnings to rearview monitors. These safety features may add to the price of your new vehicle, but may also help earn you insurance discounts and make your car safer to drive.

Adjust Your Seat Properly– Most of us are not as flexible as we were a few years ago. It is more important than ever to make sure you position your seat and steering wheel so you can comfortably operate your vehicle.

Be a Wiser Driver–Many mature people have concerns about their parents too, so you may want to look into some safety features for senior drivers. Mature people are still considered a fairly safe group, but some senior citizens may be considered as high risk as some teen drivers.Making sure that your car adapts to your needs as a mature driver can be budget-friendly and simple. Some easy changes are surely cheaper and less troublesome than having an accident.

Guest blogger Marilyn Katz is the founder of www.over50web.net , an online community for boomers.